The Ministry of Industry and Trade has just established a Working Group to discuss and work with Thai investors to find solutions to overcome difficulties in the spirit of harmonizing interests and sharing risks. Mr. Tran Hoai Trang, Deputy Director of the Department of Electricity and Renewable Energy (Ministry of Industry and Trade) was appointed as the Head of the Working Group.
There are 4 Thai investors who have invested in 16 wind and solar power projects that are facing difficulties. Specifically, B.Grimm Renewable Group with 2 projects with a total capacity of 496 MW; Gulf Energy Development Public Company Ltd with 2 projects with a total capacity of 98 MW; Gunkul Engineering Public Company Ltd with 4 projects with a total scale of 160 MW and Super Energy Corporation PCL with 8 projects with a total capacity of 686.72 MW.
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| Loc Ninh 1 solar power plant in Tay Ninh of Super Energy Corporation PCL. (Photo: Super Energy Corporation PCL) |
According to a source from the Investment Electronic Newspaper - Baodautu.vn , the reason for establishing a Working Group to work with Thai enterprises is because these enterprises have sent petitions to the relevant Thai agencies and these agencies have also sent petitions of these enterprises to the management agencies of Vietnam.
Currently, renewable energy projects of Thai investors are also facing difficulties like many other renewable energy projects when facing the risk of not enjoying the preferential price mechanism (FIT) applied since commercial operation (COD) and having retroactive electricity prices.
At the dialogue, Vietnam Electricity Group (EVN) and the Electricity Trading Company (EPTC) made a temporary proposal, according to which projects that are applying FIT1 price (9.35 US cents/kWh) but have a completion acceptance certificate (CCA) date after the expiration date of FIT1 price decision, but are still within the term of FIT2 price decision (7.09 US cents/kWh), will be temporarily calculated according to FIT2 price.
In case projects apply FIT1 or FIT2 but have a CCA date after the FIT2 price decision expires, the "transitional projects" price (VND 1,184.9/kWh) will be applied.
However, investors disagree, saying that the problem with the completion acceptance certificate is not the fault of the enterprise. Therefore, investors suggest that if EVN applies the provisional price, it will cause losses to the project and then there is an adjustment from the state management agency, EVN must be responsible for compensating for the damage.
Before the dialogue with investors with the provisional proposal in early March 2025, EVN also requested the Ministry of Industry and Trade to preside over and propose an electricity price plan, submit it to the competent State agency for decision so that EVN and investors can use it as a basis for offsetting payments for electricity purchases in mid-February 2025. However, there has been no specific guidance from the Ministry of Industry and Trade on this issue, other than establishing a Working Group to discuss with Thai investors as recently.
Source: https://baodautu.vn/16-du-an-nang-luong-tai-tao-cua-thai-lan-se-lam-viec-voi-bo-cong-thuong-d260691.html
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